Topaz Energy (TSE:TPZ) Reaches New 12-Month High on Analyst Upgrade

Topaz Energy Corp. (TSE:TPZ) shares reached a new 52-week high during mid-day trading on Thursday after Desjardins raised their price target on the stock from C$31.00 to C$32.50. Desjardins currently has a buy rating on the stock. Topaz Energy traded as high as C$31.16 and last traded at C$30.53, with a volume of 360945 shares traded. The stock had previously closed at C$30.59.

Other research analysts have also issued reports about the company. Raymond James Financial raised their price objective on Topaz Energy from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research report on Wednesday. Royal Bank Of Canada raised their target price on Topaz Energy from C$32.00 to C$34.00 and gave the company an “outperform” rating in a report on Thursday. Jefferies Financial Group decreased their price target on Topaz Energy from C$31.00 to C$30.00 in a report on Tuesday, January 20th. TD Securities increased their price objective on shares of Topaz Energy from C$30.00 to C$33.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Scotiabank upgraded shares of Topaz Energy to a “strong-buy” rating in a research note on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$33.28.

More Topaz Energy News

Here are the key news stories impacting Topaz Energy this week:

• Positive Sentiment: Royal Bank of Canada raised its price target to C$34.00 and set an “outperform” rating (?9.3% upside vs referenced C$31.10). BayStreet Article
• Positive Sentiment: Desjardins bumped its target to C$32.50 and maintained a “buy” rating (?4.5% upside vs C$31.10). BayStreet Article
• Positive Sentiment: Canaccord Genuity raised its target to C$35.00 and kept a “buy” call (?14.6% upside vs C$30.53). BayStreet Article
• Positive Sentiment: TD Securities increased its target to C$33.00 with a “buy” rating (?8.1% upside vs C$30.53). BayStreet Article
• Positive Sentiment: Canadian Imperial Bank of Commerce lifted its target to C$33.50 and issued an “outperform” (?9.7% upside vs C$30.53). BayStreet Article TickerReport
• Positive Sentiment: Raymond James raised its target to C$35.00 and kept an “outperform” rating (?14.6% upside vs C$30.53). BayStreet Article
• Positive Sentiment: ATB Cormark increased its target to C$33.00 and rates TPZ a “moderate buy” (?6.3% upside vs C$31.05). BayStreet Article Zacks
• Positive Sentiment: Market coverage pieces note an evolving narrative and updated valuation assumptions that support higher targets and helped push TPZ to a new 1?year high. Yahoo Finance AmericanBankingNews

Topaz Energy Stock Up 1.7%

The stock has a market capitalization of C$4.78 billion, a P/E ratio of 83.92 and a beta of 0.27. The company has a current ratio of 1.89, a quick ratio of 7.17 and a debt-to-equity ratio of 36.45. The stock’s 50 day simple moving average is C$28.17 and its 200 day simple moving average is C$26.76.

Topaz Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were paid a dividend of $0.34 per share. The ex-dividend date was Monday, December 15th. This represents a $1.36 annualized dividend and a yield of 4.4%. Topaz Energy’s dividend payout ratio (DPR) is 362.16%.

About Topaz Energy

Topaz Energy Corp is a royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada’s natural gas producers, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance practices. It generates revenue from the Royalty Assets, which generate the company’s Royalty Production Revenue; and the Infrastructure Assets, which generate the company’s Processing Revenue and Other Income.